A COMPARATIVE STUDY ON WELFARE POLICIES AND PRACTICES AMONG INFORMATION TECHNOLOGY COMPANIES EMPLOYEES AND PRIVATE SECTOR BANKS EMPLOYEES

Abstract

Purpose: This research aims to examine the comparative study of welfare policies and practices among Information technology companies’ employees and private bank employees. This study aims to identify the welfare policies of Employees in the IT and Banking sector. To analyze the satisfaction of employees. And also to understand that employee motivation is improved by welfare.

Theoretical Framework: In the study, the variables used for Awareness of welfare measures, Physical, Psychological, Emotional, Occupational, and Financial welfare, are included for the theoretical framework.

Design/ methodology/ approach: The researcher chose this study's primary and secondary data. The study's preliminary data was acquired using a standardized questionnaire distributed to IT personnel and bank staff. For secondary data, journals, magazines, and the Internet are employed. The study used a questionnaire as the primary data collection tool for the descriptive research. Convenience sampling was used to choose the research sample. A total of 123 samples were collected utilizing the questionnaire. The exam results were assessed using IBM SPSS Version 28.0.

Findings: The research shows that most employees are IT (52.6%) and (47.4%) Banks employees. Compared to private bank employees, IT Employees are satisfied with the working environment and facilities. It is recommended to the employees that they wish to increase the facilities for psychological and emotional facilities.

Research, Practical & Social Implication:   The purpose and implications of this study are also various factors such as Awareness of welfare measures, Physical, Psychological, Emotional, Occupational, and financial welfare of IT and Banks Employees, and it was recommended that both sectors improve the welfare. Both sectors are always higher when work satisfaction rises. People typically work more when leaders have faith in them and give them recognitions and rewards, which Increase Employees' work performance.

Originality/value: There is meagre research is conducted on IT and Bank employees; thus, this current study extends its originality on researching welfare policies and practices.

Keywords: Employee welfare, Employee welfare Policies, and practices, HRM, Information technology, private Banks.